2.2.5. The Maximum Interest Rates for Credit Cards

The monthly maximum contractual and overdue interest rates for credit card borrowing have been announcing by the CBRT quarterly. Accordingly, To be effective from 1 January 2015, the monthly maximum contractual interest rate is 2.02 percent for the Turkish lira and 1.62 percent for foreign exchange, whereas the monthly maximum overdue interest rate is 2.52 percent for the Turkish lira and 2.12 percent for foreign exchange. The monthly maximum interest rates that banks can charge on credit card borrowing for the remaining part of 2015 have been left unchanged.